All too often I here from business owners who regret selling their business. Selling a business should be the celebration of building something great, then getting rewarded for it. However, in my experience, that is more rare than common unfortunately.
67% Of Business Owners Did No Advance Planning Before Going To Market
That is according to the International Business Brokers Association. As I mentioned in my recent article How To Avoid The #1 Biggest Mistake Business Owners Make When Selling, it is easy to be taken advantage of.
All too often the disappointment lies with the price of the business at time of the sale. I have personally seen companies who should have sold for $3 Million sell for $500,000.
Don't Sign Letter Of Intent Until You Understand The Value Of Your Business
One of problems I see with many business sales is a signature too early in the process. Without a seasoned Executive on your side, you can sign too early and lose out on the real value of your business.
Business valuation doesn't need to be complicated and one of those tools you can use is the Value Builder Score. Value Builder can give you an idea on what your business is really worth and compare it to 40,000 other businesses that have participated in the same process. If you would like to learn more, just click on this button.
But for now, if you would like to see what you really came here for, take a look at this great infographic put together by Value Builder. At the end of the infographic, there is an option that will help you identify what is important to consider before exiting your business.
7 Things To Do Before Signing A Letter Of Intent Infographic
Is Your Business Ready For You To Exit?
If you are interested in selling your business, don't be one of the 67% who weren't prepared. This is a free resource for you that will provide some excellent information you can put into action.